How much do you need to know about how your spouse spends money? Maybe less than you think

Wedding planning involves major conversations about finances – but certainly not the couple’s last. simarik/iStock via Getty Images Plus by Scott Rick, University of Michigan Love is in the air, and wedding season is upon us. Like many elder millennials, I grew up watching sitcoms in the 1980s and ‘90s. Whenever those series needed a ratings boost, they would feature a wedding. Those special episodes taught me that weddings usually involve young lovebirds: think Elvin and Sondra from “The Cosby Show,” Cory and Topanga from “Boy Meets World,” or David and Darlene from “Roseanne.” But those were different times. People are getting married later in life than they used to: In the United States, the median age of newlyweds has grown to 28 for women and 30 for men. This trend means that many Americans now enter marriage after being self-reliant for several years, including managing their own money. Will they be eager to change that once they get married? Don’t count on it. A 2017 Bank of America survey suggests that millennial married couples are around 15 percentage points more likely than their predecessors to keep their finances separate. This is not necessarily a good development. As a behavioral...